Financial Briefs

Breaking financial news from Wall Street to Main Street

FFA sell-off blamed for tumbling dry bulk indices

Posted by financialbriefs on September 26, 2008

FORWARD freight agreement traders have again shouldered some of the blame for tumbling dry bulk indices, as investment banks and hedge funds sell off derivatives contracts during the crisis gripping the global financial sector. 

The move has added further pressure to the Baltic Dry Index, which fell 6.1% to its lowest level in 19 months today. 

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